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excellent recover value here trion, not invested but watching. problem here are two fold irrespective of the fundamentals. 1 Chinese company listed in te UK 2 very very small share float and liquidity.
An awful lot going on behind the scenes, which is easy to ref. But the share price is being driven down even further. By what ? ? Worst case scenario for this company !! l can,t see one , can you ? Lot of jiggary -- pokery going on here l feel. The sellers at todays price makes you wonder what price they brought in at .
Hawk --- Sparrow ---- or just boring old G.D.G investors, does,nt matter what you are. Lots going on in coming 2--3 months , according to mr.. Grewal . Funding conclusion ----- CNOOK 1388 legacy well audit conclusion -----both of which would accelerate much more profit , & finally some news on G.D.G.listing on Chinese stock market . All the above would help enormously . So, yet more patience required to see if Mr. Grewal has finally got his act together after 20 years work with his Chinese company G.D.G.-----could be good !! ----- could be" VERY" good !!!!! The Saga continues.
Talk about a non event, year end results and 1 trade. Im watching this like a hawk , well may be a sparrow.
as the fall in the price of Great Eastern Energy, another CBM producer but located in India. Sorry to jump on this board and moan about another company and its share price performance, but have just started to look at GDG and couldn't help noticing similar frustrations with shareholders here. I think these AIM listed emerging market resource plays need a long time horizon and lots of patience. However, as long as the key production and sales metrics continue to tick up, you'll be rewarded eventually. For those with the appetite to have a look at another CBM play, check out Great Eastern. I'd be interested to hear the views of seasoned CBM investors.
With G.D.G. Assets & Equity value together with there current developement plans, against a market cap. of just under £160 million pounds , it is a wonder & surprising that there is not " more "interest from U.K.investors . However , for sure the lack of communication by Mr. Grewal & his management team is not helping the situation one iota . G.D.G investors need some assurence , & any other news badly .!!!
Why is G.D.G.value falling so badly is not entirely clear , when you look back over trades for several months there has not been a massive selloff , in fact it would appear that there has been more brought in value than sold . so it would seem that it is a complete lack of the markets confidence based on lack of news on progress & clarity on dept & developement funding , together with R M B currency exposure , which has obviously has been probmatic for G.D.G. However the Chinese should be falling over themselves to lnvest in a company such as G.D.G.in there own country with proven audited gas value asetts worth over $20 billion dollars , together with an advanced developement & infrostructure programme in place for same. Mr. Grewal has also confirmed recently that he is confident that talks with major Chinese lnstitutions are in there final stages on financing for G.D.G.s further developement & curent dept settlement . With the above financing in place it would allow G.D.G.to kickstart & rapidly move forward the amount of gas for sale over the next couple of years or so . The above alone could affectively generate substantial income of over $230 million dollars by 2020---2021 going on calculations based on the proposed O.D.P. ( overall developement plan ) which includes further well drilling ( about 30 Lifabric wells per year ) & current wells that will be connected & producing more gas by 2020 ( all as proposed & set out in G.D.G. latest presentation outlook . As has already been emphasized we need some good news " soon " on progress with the above Chinese funding & at what stage the 1,388 well drilling audit has progressed , which surely is near completion & will help further with promised income as per agreement with Chinese Partners. Anyway im back in at these prices !!! The G.D.G. saga continues.!!!
I'm not even sure whether the BoD is doing a lot of stuff. What they are not doing (or not doing well) is communicating. As you say, it should be simple, get gas sell gas and use profit sensibly. They should communicate projections better and if they cared about SP, also make clear when this share will actually return anything to shareholders other than red numbers.
The BOD's are obviously doing a lot of stuff but it's like a plate of spaghetti nobody can see where anything starts and finishes. It should be simple, get gas, sell gas, make profit, but it's just not happening.
Why are we dropping everyday what am I missing?
Few reasons: 1. Company has been around for a while, people may expect a bit more maturity with return of capital to share holders by now, or at least a more profitable company. 2. China company discount. People are less keen to own China based small to medium sized companies as they have a bad track record on UK stock exchanges. 3. People may simply not see where the company is heading. If I told you that you could invest in GDG or in RDSB, why would you want to pick GDG? On the word from CEO that all will be well and we should be excited (just as he always says)? Not saying GDG will be awful (I'm following it after all) but at present you'd need the patience of a saint.
you would have lost out on 50% if you bought. why on earth is this dropping soo much...anyone know?
Where is trion these days???
Almost £1.80 worth a buy
I am sorry you are unable to understand. I'll make it clearer for you: RG and PI and certain brokers will be stuck in "everything will always be amazing"-mode. The company is poor at communicating. Their slow monetization of the reserves can be down to a multitude of reasons, but none of the explanations (or the lack thereof) provided is satisfactory. My view is that there are better shares to hold, but if you hold shares and you are very patient then it may pay off eventually. I am very familiar with the Chinese fossil fuel market (and RG's companies in particular), thank you for your (misplaced but well-meaning) concern.
Not long till £1.80 now
,You seem to agree & disagree with some previouse comments that were made. But generally speaking l dont understand what your talking about , & feel that if you did some proper research you would understand just how much G.D.G.is doing to turn there gas reserves into cash. (however slow the process.) Your position on holding G.D.G shares is not made clear in your post after statlng what you would do or not do if you were considering owning some . However if you do already own some shares , Please do a lot more research to better understand G.D.G situation. lf you do not already own shares , with your understanding l would not bother either .
First off, I would stop paying attention to most of not all brokers, especially ones covering mainly small cap. Just look at how often they give buy at very inflated prices and how rarely they give sell. Second, Grewal has always been very upbeat and PI have acted in a manner similar to some brokers, which makes me doubt how reliable they are to point out negative issues. As for gdg in general, they are moving slowly. If they have useful reserves, then they should work to turn those reserves into cash flow. This is where investor uncertainty comes in. We don't know why. It may be that Grewal does not wish to take on higher gearing, or delays due to inadequate infrastructure (pipes, roads, etc). I wish that communications would improve from the company but with one majority owner (who no doubt ha's access to all information himself) I don't think this will improve. If I bought shares significantly higher than current price I would hold on to them because company appears to improve although slowly (and taking losses is oh so hard on the psyche). If I held no shares I would probably not buy into gdg at present. The shorter version: company is growing slower than I would likeand there is not much information about it. But they are producing and selling so should be viable.
G.D.G . broker Peel hunt who on the 26 th July , reiterated a" buy" & share price target of £5.61 for G.D.G which was later updated on the 4 th Oct. to a "buy" & target price of £5.63 . Nine days later Peel Hunt released yet another note statlng a downgrade prediction & current S/P target price of £ 2.40. What a volatile set of predictions on a companies S/P value when there were no apparent changes to G.D.G business market outlook during that period. lf Peel Hunt feel that the target S/P of £2.40 is right at this moment of time , on what did they base there expertise & calculations on when nine days earlier there forcast was for a" BUY" & target price of £5.63 .? Surely these same brokers should be responsable to state on what grounds they make these crazy predictions , that can profoundly affect a companies current share value. Meanwhile back on L.S.E. South east website there last Peel Hunt G.D.G.listed S/P Buy target forcast was on the 4th. Jan. for £9.50 . Furthermore L.S.E . same website for G.D.G.have not got under fundermentals section a listing for 2015 company financial results yet . All the above & there inability to record accurate buys & sells ( l have brought shares in the past which have never even been shown ) its a wonder us private investors know whether we are coming or golng .!!! ALL THE ABOVE PROFESSIONAL BODIES CERTAINLY DONT. & to think we place our financial confidence in them at times . Now in Proactive lnvestors latest video of the 28th. Oct. Randeep Grewal in interview is very upbeat & stresses the determination to complete & monatise all the G.D.G companies effort & hardwork over the last 20 years. He finalizes by saying G.D.G. is now at the beginning of a string of successes & there doors are open for a farm out partner who is completely interested in domestic gas production ln China only , that would complete there prefered funding option . Randeep has previously stated that he feels G.D.G are at a presipice of there developement with audited gas reserves exceeding 25 trillion cubic feet & more to come from there vast acreage in China . With soon to be released news on the audited revenue expected from there Chinese partners agreed percentage of there gas sales , the saga continues .!!!
Might be worth buying these again when it drops down to £1.80 in the next few weeks
l don,t know anymore , not a mention of the Audit of CNOOC drilling sales & volumes on our Licenced Areas. Not even very positive about reaching gas output targets . ls there anybody in line for farmouts , again, not very positive . This company is like treading in treackle , always dragging its heals . When is this company ever going to move forward , with the CBM gas assets G.D.G have developed in China over the last 20 years we share holders should all be laughing . ls it Randeep thats the problem , why does,nt he get some help on the board , instead of being the one & only member CEO & Chairman , but nobody else . l suppose we have got to wait another couple of months now , or , who knows maybe even more for the next boring update . Please somebody tell me lm wrong , & reinspire my confidence . Perhaps lm missing something ?
green dragon gas Green Dragon Gas Ltd. (LSE: GDG), one of the largest independent companies involved in the production and sale of Coalbed Methane ('CBM') gas in China, announces that the Company is in discussions with Nordic Trustee ASA (the "Bond Trustee"), which acts as trustee for the holders (the "Bondholders") of the $88 million senior secured bonds (the "Bonds") issued by Green Dragon Gas Limited and certain key bondholders regarding a request for certain waivers of its financial covenants. As disclosed in the Company's Financial Statements for the year ended 31 December 2015, the Financial Statements do not include the Group's share of the China National Offshore Oil Corporation ("CNOOC") operated Shizhuang North Block ("GSN") transactions or operated Shizhuang South Block ("GSS") 1,388 wells' revenue, associated costs, resulting margins and EBITDA. During 2015 CNOOC commissioned two additional gas gathering and sales stations in GSS for a distribution capacity of 22.7 bcf per annum. The sales revenues and volumes associated with the CNOOC operated areas of GSS and GSN, for the period ending 31 December 2015, are currently being audited by independent auditors and will be reported in due course. The audit will cover the sales revenue since inception of the sales (2009-2015), from all the wells operated by CNOOC in the areas under the Framework Agreement between CNOOC and Green Dragon, and the Company will record its share of revenue, costs, resulting margins, and the resulting cash flow. Finally, such revenues and resulting EBITDA were included within the calculations of the covenants on the issue of the Bonds and thus covenant compliance can only be measured under the same principle at each relevant reporting date. Even though the Company, CNOOC and the independent auditor are actively in dialogue to complete the audit, such completion is not wholly within the control of the Company. The Compliance Certificate related to the year ended 31 December 2015 and provided to the Bond Trustee confirmed that the covenants in the Bond Agreement had been satisfied with the exception of the Interest Coverage Ratio and Leverage Ratio. All payments under the Bond Agreement are current and expected to be so through to maturity. The first-time audit of the CNOOC sales revenues and volumes is ongoing with the focus being the underlying allocation of production across the different areas of the block and underlying the associated revenue calculation and allocations. A similar allocation exercise informs the allocation of operating costs between and among the areas. The delineation of the GSS block into five areas, with different cost recovery accounts, complicates this allocation process. In order to allow the Company to resolve completion of the CNOOC audit so that it will be able to give a final and conclusive statement of its results for the year to 31 December 2015, and delive
YAWN & YAWN again , M.M.s Rubbing there hands together ( l can here it !!! ) Mind you its got to be a good price to buy at , ( has,nt it ? ) lm not really ever sure anymore with these Greka Group of Companies . With all the right ingrediants & everthing in place with G.D.G they still manage to flounder . ( As per Share Price ). That aside ," When" we get our lnterim report showing the ever increasing CBM Gas output production & all the infrostructure in place know to produce even more gas , the market has got to wakeup & Finally realize the potential in G.D.G.once & for all . ( thats for sure ) & then 225.00 per share will seem a crazy price for a part of G.D.G $ 25 Billion gas assets audited so far in China ,complete with there partners CNOOK & CNPC Etc. Enough said !!! l have stopped myself " YAWNING "
Why repeat it all again Tango ( YAWN !!! ) Surely once is enough !!! Please !!! Stick to your dancing Mate .
Green Dragon Gas Ltd. (LSE: GDG), one of the largest independent companies involved in the production and sale of Coalbed Methane ('CBM') gas in China, announces that the Company is in discussions with Nordic Trustee ASA (the "Bond Trustee"), which acts as trustee for the holders (the "Bondholders") of the $88 million senior secured bonds (the "Bonds") issued by Green Dragon Gas Limited and certain key bondholders regarding a request for certain waivers of its financial covenants. As disclosed in the Company's Financial Statements for the year ended 31 December 2015, the Financial Statements do not include the Group's share of the China National Offshore Oil Corporation ("CNOOC") operated Shizhuang North Block ("GSN") transactions or operated Shizhuang South Block ("GSS") 1,388 wells' revenue, associated costs, resulting margins and EBITDA. During 2015 CNOOC commissioned two additional gas gathering and sales stations in GSS for a distribution capacity of 22.7 bcf per annum. The sales revenues and volumes associated with the CNOOC operated areas of GSS and GSN, for the period ending 31 December 2015, are currently being audited by independent auditors and will be reported in due course. The audit will cover the sales revenue since inception of the sales (2009-2015), from all the wells operated by CNOOC in the areas under the Framework Agreement between CNOOC and Green Dragon, and the Company will record its share of revenue, costs, resulting margins, and the resulting cash flow. Finally, such revenues and resulting EBITDA were included within the calculations of the covenants on the issue of the Bonds and thus covenant compliance can only be measured under the same principle at each relevant reporting date. Even though the Company, CNOOC and the independent auditor are actively in dialogue to complete the audit, such completion is not wholly within the control of the Company. The Compliance Certificate related to the year ended 31 December 2015 and provided to the Bond Trustee confirmed that the covenants in the Bond Agreement had been satisfied with the exception of the Interest Coverage Ratio and Leverage Ratio. All payments under the Bond Agreement are current and expected to be so through to maturity. The first-time audit of the CNOOC sales revenues and volumes is ongoing with the focus being the underlying allocation of production across the different areas of the block and underlying the associated revenue calculation and allocations. A similar allocation exercise informs the allocation of operating costs between and among the areas. The delineation of the GSS block into five areas, with different cost recovery accounts, complicates this allocation process. In order to allow the Company to resolve completion of the CNOOC audit so that it will be able to give a final and conclusive statement of its results for the year to 31 December 2015, and deliver to the Bond